Set Up Limited Company London
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Starting a limited company in London is an exciting journey that can open many doors for you. Whether you have a great business idea or want to turn a hobby into a career, setting up a limited company gives you the legal structure to operate professionally and protect your personal assets. Here’s a simple guide to get you started.
First, choose a unique company name. It can’t be the same as another registered company’s name, so check availability on the Companies House website. You’ll also need an official address in the UK, which will be publicly available. Alternatively, you could use a business address service for privacy.
Next, appoint at least one director responsible for running the company and making decisions. You can be the sole director, but you can also appoint others. You’ll also need shareholders: people who own parts of the company and share in the profits. You can be both a director and a shareholder.
After you’ve done all that, the next step is to prepare the necessary documents: the Memorandum of Association (which is a legal statement signed by all initial shareholders agreeing to form the company) and the Articles of Association (which are rules about how the company will be run). Standard templates from Companies House are usually fine for most small businesses.
Remember to register for Corporation Tax with HM Revenue and Customs (HMRC) within three months of starting your business. Keep accurate financial records and file annual accounts. Opening a separate business bank account can help keep your company’s finances organised.
If you plan to hire employees, set up a payroll system and register as an employer with HMRC. Follow employment laws, including paying at least the minimum wage and providing a workplace pension.
Set Up Your Limited Company in London Today
Setting up a limited company in London may seem like a lot of work, but with careful planning and organisation, it’s manageable. The Accounting Crew is here to help you establish your company quickly and effortlessly without the hassle. Our team of professional accounting and tax experts will take care of all the administrative tasks, so you can focus on what you do best.
Ready to set up a limited company London style? Get a quote or book a free call with The Accounting Crew today and let us help you get your business off the ground!